Toray acquiring Swedish airbag component supplier Alva?
Toray Industries is acquiring Swedish manufacturer of cushions for automotive airbag systems, Alva Sweden AB (ASE) from its owner AB Anders Westerlind.
The deal, terms of which were not disclosed, includes ASE’s two subsidiaries, Alva Confecções SA of Portugal and Alva Tunisia SA of Tunisia, Torday said in a statement 28 Aug.
Toray and Alva started acquisition talks in 2018, as part of the Japanese supplier’s bid to advance its integrated operations and enter the downstream business of cushions to extend its supply chain.
Toray expects the acquisition to enable it to improve direct relationship with module manufacturers and, through them, with automakers. This, Toray said, will help the company to “swiftly identify” the latest airbag development trends and customer needs.
The company also looks to tap Alva’s cushion-manufacturing expertise in fabric design to bolster its product development and proposal capabilities, using more robust fibre, fabric, and sewing integration.
Headquartered in Mölndal, Sweden, Alva was established in 1948 and has been supplying airbag cushions since 1997.
The company registered sales of over €32m last year and employs 1,030 globally.
The global airbag market is steadily growing, driven by vehicle safety regulations across the world.
In addition, according to Toray, demand for higher performance airbags is rising with the emergence of next-gen vehicles equipped with self-driving and other new technologies.
Toray’s airbag business includes polyamide fibre production operations in Japan, Thailand, and Mexico and fabric manufacturing sites in Japan, Thailand, China, the Czech Republic, India, and Mexico.
» Publication Date: 02/09/2019
This project has received funding from the European Union's Horizon 2020 research and innovation programme under grant agreement Nº 737882.
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